Gold Weekly Two-Leg Bear Flag In Play

Gold weekly chart shows the negative divergence that forced the pull back, the neon green shows a possible two leg bear pattern in progress, with the consolidation period wrapping up now. Price now in between that S/R range of 1350 to 1370, last week tapping the top rail intraweek, but the candle pulled back to under halfway which is not a ringing endorsement for gold bulls. The RSI 50% level is important so watch that for hints. Also, the direction gold breaks out of that tight 1350-1370 range will be telling. This information is for educational and entertainment purposes only--do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.